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Garland Law Offices, P.A.
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“When someone dies, not only must friends and family deal with their grief, but often, they must also start untangling the estate planning laws and regulations that suddenly come into play.” With no estate plan, you can leave your family to pay thousands of dollars in extra taxes or fighting... Continue reading
Posted yesterday at Garland Law Offices, P.A.
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“Relationships matter more than anything else” Regardless of how we do as investors, savers, and planners, other people are nearly always impacted by our decisions and actions. MarketWatch’s recent article, “How to talk to your family about your estate plan,” says that frequently those most affected are the ones about... Continue reading
Posted 2 days ago at Garland Law Offices, P.A.
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“Among the many words used to describe family caregivers—invisible, overwhelmed, heroic, to name just a few—one is often just assumed. That word is “unpaid.” Although family caregivers are often praised as a critical part of the elder care workforce, most don’t get a paycheck.” Many caregivers of elderly parents and... Continue reading
Posted 3 days ago at Garland Law Offices, P.A.
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“Everyone should have an estate plan, no matter what his or her level of worth.” Your estate plan will instruct how your assets are distributed when you pass away. If you don’t have an estate plan, then you still sort of have one. However, it’s the one everyone else who... Continue reading
Posted 4 days ago at Garland Law Offices, P.A.
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“Becoming suddenly single can set your world in a tailspin, and a lack of financial planning is setting women, in particular, even further back.” Death or divorce are two of the top five financial challenges women face, according to a report by Key Private Bank. Right next to these on... Continue reading
Posted 5 days ago at Garland Law Offices, P.A.
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“It sounds like these trusts are head and shoulders above just having a will. However, they did sound like they could get very expensive in comparison to a will. Is there really that much greater benefit to a living trust versus a will?” WealthAdvisor’s recent article asks, “Do Living Trusts... Continue reading
Posted Oct 13, 2017 at Garland Law Offices, P.A.
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“The most carefully thought-out estate plans can go badly awry, if one simple detail isn’t carefully attended to–designating beneficiaries for everything from trusts and wills to insurance policies and bank accounts.” It’s easy to overlook this important detail. However, an outdated beneficiary designation can completely wreck your intentions. As Wilmington... Continue reading
Posted Oct 12, 2017 at Garland Law Offices, P.A.
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“While a thorough assessment of an estate plan is encouraged yearly, these eight items are important when considering if it’s time for a refresh.” It’s not that tough for your estate plan to easily outdate itself. Given the changing tax laws, regulations, and situations in life, estate plans should be... Continue reading
Posted Oct 11, 2017 at Garland Law Offices, P.A.
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“Trump's rhetoric surrounding the “death tax” is deeply at odds with reality.” President Trump recently said he’d get rid of the federal estate tax, calling it a "tremendous burden" on family farmers. “We’ll also protect small businesses and family farmers here in North Dakota and across the country by ending... Continue reading
Posted Oct 10, 2017 at Garland Law Offices, P.A.
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“When a testator has disposed of real estate during her lifetime, such disposition works as an ademption of the specific devise and the rights of devisees do not attach by way of substitution to the proceeds of its sale or to other property subsequently acquired by the testator.” The Delaware... Continue reading
Posted Oct 9, 2017 at Garland Law Offices, P.A.
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“Bad things happen! Catastrophes! Accidents! Illness! Death!” Estate planning is a part of good parenting. It means trying to make things a bit easier on the family we leave behind. Those of us with any accumulated assets or minor children really must do some estate planning. The more complicated your... Continue reading
Posted Oct 6, 2017 at Garland Law Offices, P.A.
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“Wealthy Americans over 80 control more assets than those under 50.” Six of the 25 richest Americans are over 80, says the Bloomberg Billionaires Index. Bloomberg’s recent article, “Octogenarians Rule the Rich,” says new IRS data shows the age of the top millionaires and billionaires in the U.S. People over... Continue reading
Posted Oct 5, 2017 at Garland Law Offices, P.A.
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“Once you start prioritizing where the money will go, you can better make a financial plan for the future.” The Business Insider’s recent article, “The first 3 things to do with your money before you have a baby are easy to overlook,” discusses the most important things to do with... Continue reading
Posted Oct 4, 2017 at Garland Law Offices, P.A.
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“Philanthropic gifts and commitments to Kansas State University given through the Kansas State University Foundation totaled $152,680,585 for the fiscal year that ended June 30, 2017.” The results of Kansas State University’s fundraising results this year mark fiscal year 2017 as the second most successful year in KSU’s history, says... Continue reading
Posted Oct 3, 2017 at Garland Law Offices, P.A.
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“…for those who are so fortunate as to be burdened with potential estate tax issues, there may be a more advantageous approach that can both fund future educational costs, as well as reduce the donor’s potential future estate tax.” Many parents like the 529 plan as a great way to... Continue reading
Posted Oct 2, 2017 at Garland Law Offices, P.A.
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“Beware of costly penalties or disincentives for acting too soon or too late or simply accumulating too much money.” Retirees need to make their savings stretch as long as possible in retirement. Many folks are surprised by the severe effect that taxes can have on their cash flow. However, Kiplinger’s... Continue reading
Posted Sep 29, 2017 at Garland Law Offices, P.A.
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“Abuse often leads to depression and medical problems in older patients—even death within a year of an abusive incident.” Those subjected to emotional, physical, or financial abuse often are silent. That makes identifying victims and intervening, a real challenge for doctors and nurses, according to the USA Today’s recent article,... Continue reading
Posted Sep 28, 2017 at Garland Law Offices, P.A.
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“As baby boomers age and head into retirement, estate planning has become a thriving business. How best to deal with our homes—often our most valuable asset—is among the most fraught questions that need addressing.” Do you sell your home and downsize to leave more cash for the kids to divide?... Continue reading
Posted Sep 27, 2017 at Garland Law Offices, P.A.
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“If you are like most people, when you hear the words “estate planning,” you probably think of writing a will, to explain who will get what you own when you die. The problem is, a will has little or nothing to do with you. It’s all about planning for someone... Continue reading
Posted Sep 26, 2017 at Garland Law Offices, P.A.
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“Sound financial decisions don’t involve who’s in the White House, although that can definitely impact you. What you always need is a good long-term strategy.” Many Americans, who are nearing retirement, are becoming worried about their finances with the Trump administration. They may be concerned about their portfolio with stocks... Continue reading
Posted Sep 25, 2017 at Garland Law Offices, P.A.
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“The closer you get to retirement, the more power the stock market potentially has over you. A steep drop at the wrong time could pack a devastating punch.” Even if you’ve saved, invested and paid down debts, if you’re using traditional strategies, you still might find yourself coming up short... Continue reading
Posted Sep 22, 2017 at Garland Law Offices, P.A.
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“Everyone needs an estate plan, because it is simply about control and protecting the ones that you love.” A will is not just for the rich. The Huffington Post’s recent article confirms that “You Don’t Have to Own an Estate to Do Estate Planning!” As the article notes, estate planning... Continue reading
Posted Sep 21, 2017 at Garland Law Offices, P.A.
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“Before crafting a last will on your own, here are some issues to keep in mind.” Using online sites to craft estate-planning documents like wills, trusts and powers of attorney can be tempting for some who can’t or don’t care to spend the money for a qualified estate-planning attorney, or... Continue reading
Posted Sep 20, 2017 at Garland Law Offices, P.A.
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"People don't know when they will die, and don't know what the rules will be [when they do], so they would be less inclined to change their estate plans." There are many reasons that motivate charitable giving. They include a moral obligation, religious tithing, a desire to improve the world,... Continue reading
Posted Sep 19, 2017 at Garland Law Offices, P.A.
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“Domestic partners receive certain rights, when it comes in inheritance taxes in New Jersey.” New Jersey is one of the few states that still imposes an inheritance tax. In that state, the inheritance tax isn’t based on the size of the estate. It depends on who receives the estate, says... Continue reading
Posted Sep 18, 2017 at Garland Law Offices, P.A.